The great tech layoff has begun; in recent months, tech giants like Microsoft, Alphabet (Google), Amazon, and Twitter have collectively laid off over 150,000 employees due to slow economic growth. The data analysis conducted by 365 Data Science found that the median experience of the laid-off employees is 11.9 years, indicating that these are not necessarily junior workers, but experienced professionals.
The impact of automation and AI has hit the HR functions and software engineers the hardest. At Google and Twitter, software engineers were most affected, while HR and talent sourcing were the hardest hit at Microsoft and Meta. The data also revealed that a narrow majority of the laid-off employees were female (56%).
Tech Layoff Challenges for Families and Individuals
This is a difficult time for the tech industry and its employees. Losing a job can be a traumatic experience, and the uncertainty of the job market only adds to the stress. The fact that only 10% of those laid off have listed a new job on LinkedIn may indicate long-term unemployment or a shift towards self-employment or freelance work.
This is where Paladin Impact comes in. As a company that specializes in matching talented fractional professionals with the right organizations, we believe that every person has the potential to make a significant impact in their chosen field. With the current state of the tech industry, it’s more important than ever to provide support and resources to those who have lost their jobs.
At Paladin Impact, we provide personalized career guidance, mentorship, and training programs to help individuals navigate the job market and find the right job fit. Our goal is to empower professionals to take control of their careers and make a positive impact in their chosen field.
We believe that by providing support and resources to those affected by the tech industry layoffs, we can help to mitigate the impact of these layoffs and ensure that talented professionals are able to make the most of their skills and experience. With our innovative approach and commitment to empowering individuals, we believe that Paladin Impact has the potential to make a real difference in the lives of those affected by the current state of the tech industry.